Blockware Mining Raises $25 Million

North American bitcoin mining company Blockware Mining today announced that it has raised over $25 million in a second oversubscribed funding round, bringing the company’s total capital raised to more than $32 million.

According to the announcement, Blockware plans to use the funding proceeds to increase both the scale and scope of its mining operations in its currently-installed North American farms and beyond.

The company’s previous rounds have allowed the purchase of 14,000 mining rigs in the second quarter of 2021, from which Blockware will employ 8,000 rigs to scale new, flagship operations in Kentucky, where it recently purchased five acres. The remaining 6,000 machines are planned to be sold to other operators in the country. With the newest round, the company seeks to increase its current 0.3 exahashes per second (EH/s) mining capacity to over 1 EH/s in mid-2022.

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